At a recent banking conference, we conducted a poll that asked how many banks want to be more innovative. About 85% of the hands shot up. We then asked, “How many bankers have the culture to experiment, an initiative to innovate, time to innovate and a budget?” Almost every hand dropped. And, there it is – The reason why banks don’t innovate isn’t because they don’t want to, but because it has not risen to a level of importance to warrant a formal initiative. This is the “Innovation Dilemma” in banking – Bankers want to innovate, but are not sure how.
Tag: Change Management
The now famous Ally Bank commercial of 2012 that asked two kids if they want a pony goes down as one of the most effective in banking history. Two girls are asked if they want a pony, and while the girl in blue gets a toy pony, the girl in orange gets a real pony. Disappointment ensues to the Blue Kid and the moral, of course, is even kids know it’s wrong to treat others differently. While an effective commercial and a nice lesson for the grade school set, it is a poor lesson for bankers not to mention both intellectually and emotionally disingenuous.